VaxInnate Receives Extension of Contract from BARDA for Development of Seasonal and Pandemic Influenza Vaccines

Allows for Non-Dilutive Funding of $53 Million

February 17, 2015 08:00 ET | Source:VaxInnate Corporation

Cranbury, NJ, Feb. 17, 2015 (GLOBE NEWSWIRE) -- VaxInnate Corporation, a biotechnology firm pioneering a
breakthrough vaccine technology, today announced that it has
executed a contract modification with the U.S. Department of Health
and Human Services, Biomedical Advanced
Research and Development Authority (BARDA) to extend the base
period of its current contract (HHSO100201100011C) through February
2016. This extension was granted by the government following
completion of an In Process Review (IPR) based on the Company's
milestone performance to date. It allows for the use of
approximately $53 million of remaining funds from the base period
to be applied to the development of both the seasonal quadrivalent
and pandemic influenza vaccine candidates. VaxInnate was originally
awarded the contract with BARDA in February 2011.

VAX2012Q is an investigational seasonal influenza vaccine
comprised of four strains that are each fused to a flagellin
protein, which acts as a toll-like receptor (TLR) ligand. The TLR
class of proteins is known to activate the innate immune system,
which in turn enhances the adaptive immune response to vaccines. In
a Phase 1 study of 316 healthy adults aged 18-40, doses of VAX2012Q
as low as 2 mcg per component were shown to be immunogenic, with
mean seroprotection rates exceeding 90% for each of the four
vaccine components at the day 21 clinic visit. The vaccine was
generally well-tolerated, with mild to moderate arm pain the most
commonly reported adverse event. VAX2012Q is currently enrolling
healthy adults aged 65-75 in a double-blind, randomized,
placebo-controlled Phase 1b/2 study.

Powerful Vaccine Technology
Platform

VaxInnate's technology platform is based on proprietary
toll-like receptor (TLR) technology, which potentiates the immune
response. The TLR technology genetically fuses vaccine antigens to
the bacterial protein flagellin, and this sequentially triggers the
innate and adaptive immune systems. Using this technology, vaccines
can be produced using low-cost, highly scalable recombinant DNA
techniques, thus avoiding many of the challenges of conventional
vaccine production. This technology has the potential for
production of significantly greater quantities of vaccine in rapid
timeframes, with very low infrastructure costs.

About VaxInnate

VaxInnate is a privately held biotechnology company in Cranbury,
NJ that is pioneering a breakthrough technology platform for use in
developing novel and proprietary vaccines. Influenza vaccines
manufactured using this technology have demonstrated excellent
immunogenicity in the elderly population, a group that is typically
less responsive to influenza vaccines. VaxInnate's vaccines focus
on infectious diseases, including seasonal and pandemic influenza,
Clostridium difficile and dengue. VaxInnate's ongoing studies of
seasonal and pandemic flu vaccines are significantly funded under
Contract No. HHSO100201100011C with the Office of the Assistant
Secretary for Preparedness and Response, Biomedical Advanced
Research and Development Authority (BARDA), Department of Health
and Human Services (HHS).

To learn more about VaxInnate and to explore the company's
technology platform, please visit the website at www.vaxinnate.com.

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